Stand-Alone HRA plans are a new alternative to employer-sponsored group health insurance plans. Rather than paying the costs to provide a specific group health plan benefit, employers can fix their costs on a monthly basis by establishing a Stand-Alone HRA plan.

With a Stand-Alone HRA, both the business and employees save money. Here's how:

The business gives each employee a fixed dollar amount (an HRA allowance) that the employees choose how to spend.

Employees purchase their own individual policy directly from a health insurance company of their choice (typically, this saves the employee 25-50%).

Employees use their HRA allowance to reimburse themselves for their individual health insurance costs or other medical expenses such as doctor visits and prescription drugs.

The business fixes all costs and has complete control of the HRA plan.

Small and medium-sized business owners, non-profits, CEOs, CFOs, HR professionals and accountants should download this buying guide to learn how to evaluate Stand-Alone HRA providers.

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Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. PeopleKeep, Inc., does not sell health insurance.

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